Is “Walton High School Inventory Low” a statement or question?
I heard it again today, the “it” being that metro Atlanta inventory is low. While that relative fact is important to some, it does not really reflect the MGR market; i.e., the Walton single family detached resales over $600k in East Side, Mount Bethel, Sope Creek and Timber Ridge. The following charts and table illustrate the point.
Since 2015, the average inventory of Active Listings priced over $600k during the month of August is 89. That puts last month down about 10%. In relative terms, one would be correct to describe the inventory as low. With this mindset, it would then also be true to then note that inventory was high (about 10% above the average) in August 2017. Is 10% (above or below) significant enough to identify the market as low or high? Personally, I don’t think so.
What is interesting is the proportion of Active Listings priced over $600k. As shown in this bar chart, the percentage of the higher price ($600k+) listings is about 50% and on a slight uptrend since 2015.
Equally notable is that the percentage of higher price Sales has been increasing, from about 25% in 2015 to about 40% today, with a huge change last month in which it represented almost 70% of all Walton* sales.
MGR may best be prepared to assist those looking for a Realtor who knows the local market, whether buying or selling. Contact Brady to start the conversation.